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Dec 28, 2012
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o'hara and on the fundamental side steve cortes, a cnbc contributor. welcome to both of you. stocks versus the s&p, for example, what do you charts tell you and what do you like? >> well, bill, i like stocks for the short term. when i say short term, into the year end, first or second week of january, but they are getting concerning to me, so i really like gold over the intermediate term and my way to play gold is by playing the gld. recently the gld is bouncing lower off of a strong resistance at 174 on the charts. i think there will be short-term weakness in cold, but i'm using this as an opportunity to accumulate some positions. would i love to see it hit 155, 156 which is -- which is an upward rising support level. look at the options, a lot of activity down around that level which tells me there's interest, and i would love to be buying it right around there, and i think we have good upside. >> steve? >> what i don't -- >> i'm on the other side of gold. would you think with a name like cortez i would have sort of an inborn lust for gold but i did not. did not get that fr
o'hara and on the fundamental side steve cortes, a cnbc contributor. welcome to both of you. stocks versus the s&p, for example, what do you charts tell you and what do you like? >> well, bill, i like stocks for the short term. when i say short term, into the year end, first or second week of january, but they are getting concerning to me, so i really like gold over the intermediate term and my way to play gold is by playing the gld. recently the gld is bouncing lower off of a strong...
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Dec 27, 2012
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steve weiss. >> i've never seen that many. but we've got mike murphy, who doesn't like the stock at all. he's short that thing. >> short -- >> i don't have the guts to short it. i'd like to be. i don't have the guts to. >> i think at some poinl, the valuation in amazon is going to have to come in to some sort of normal level. it's trading at 500 times current level, so, i think it will is a pull back and we're targeting the 218 level as a key level. >> all right, jane? >> all right. here's another surprise. defense industry is a huge employer. i know people who have been getting their layoff notices ahead of the fiscal cliff. market isn't playing defense in selling the stocks. no. pretty close though their 52-week highs and have outperformed the s&p. in fact, lockheed and raytheon ended up, melissa. >> doc j, what do you see? >> ah, i like general dynamics the most of the group. it's only about 4% year to date. some of these others are up double digits. all of general dynamics move lately, melissa, has come since the election.
steve weiss. >> i've never seen that many. but we've got mike murphy, who doesn't like the stock at all. he's short that thing. >> short -- >> i don't have the guts to short it. i'd like to be. i don't have the guts to. >> i think at some poinl, the valuation in amazon is going to have to come in to some sort of normal level. it's trading at 500 times current level, so, i think it will is a pull back and we're targeting the 218 level as a key level. >> all right,...
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Dec 27, 2012
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. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge
. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3%...
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Dec 26, 2012
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let's do on the technical side and fundamental side with steve cortes. good to see you both. one has been a stellar performer and the other not so much. what do you like right now? >> bill, you just summed it up. the news came out over the weekend and the market is telling you what you should believe in. netflix is up 1% and amazon down 3.5%. look at the chart in amazon, you can see it's been showing us this over the last four months. amazon put a high in at 261. about eight days ago tried to take out that high and couldn't do it. it put in a double top. that's a sign of a -- you know, of a failure. you have a stock like amazon who basically -- the stock failed at 261 and now we have a 20-day moving average which it broke through and 209-day moving average, the last time it broke through the 20-day moving average it fell 13%. now we look over at netflix, that's a totally different story, right you? said it was a dog. it bottomed out at $54 and broke above its 20-day moving average and stayed above its 20-day moving average for the last four weeks. if it stays above its $20 mo
let's do on the technical side and fundamental side with steve cortes. good to see you both. one has been a stellar performer and the other not so much. what do you like right now? >> bill, you just summed it up. the news came out over the weekend and the market is telling you what you should believe in. netflix is up 1% and amazon down 3.5%. look at the chart in amazon, you can see it's been showing us this over the last four months. amazon put a high in at 261. about eight days ago...
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Dec 26, 2012
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. >> steve weiss quickly. >> john, how do you see it playing out? we've seen a lot of ends being front end loaded only to fall off and maintain the back end. with everything that's going on in terms of spending, cutting back from europe and from u.s. standpoint. how do you see it playing out next year in terms of the market action? >> in terms of the market action, what we would expect, the first quarter a lot is going to depend on what happens with the fiscal cliff. as i said before, if we move into a recession, you're not going to get a 1585 target or 2 $108 in earnings. we're not expecting the powers that be in washington are going to be willing to save a defeat from the jaws of victory. >> you haven't watched them before, john, have you? >> i've been around for a long time. i have watched them before. i do know that they worry about legacy. the history books would write about them and say do this. >> it's good to talk to you. thank for coming on. >> thanks for having me. >>> pete, 1585 is the price target. second highest on the street just behin
. >> steve weiss quickly. >> john, how do you see it playing out? we've seen a lot of ends being front end loaded only to fall off and maintain the back end. with everything that's going on in terms of spending, cutting back from europe and from u.s. standpoint. how do you see it playing out next year in terms of the market action? >> in terms of the market action, what we would expect, the first quarter a lot is going to depend on what happens with the fiscal cliff. as i said...